- Ethereum retests a key BTC support level that last held firm in mid-2019.
- RSI at 23 shows ETH/BTC near historic lows seen before major reversals.
- Ethereum’s chart closely follows Bitcoin’s 2018–2020 pre-breakout structure.
Ethereum’s valuation against Bitcoin is nearing a long-standing support level last reached in mid-2019. Technical patterns show Ethereum’s ratio may be entering a familiar stage within broader market cycles. Current chart structures and metrics align with previous inflection points seen in both assets over time.
Ethereum’s Historical Pattern Mirrors Prior Bitcoin Cycle
Ethereum’s recent behavior reflects Bitcoin’s previous multi-year structure from 2018 to 2021. During that period, Bitcoin moved through defined accumulation and consolidation zones before a major breakout. This setup provides a model for Ethereum’s current trajectory as technical similarities continue to emerge.
Merlijn The Trader has presented a comparative analysis of Ethereum and Bitcoin price cycles. He analyzed how Bitcoin dropped into red accumulation zones between 2018 and early 2020. According to Merlijn, Bitcoin then formed an orange consolidation zone before rallying sharply in late 2020.
Source: Merlijn The Trader
He explained that Ethereum followed a nearly identical setup starting in 2022. Price action entered an accumulation zone, then moved sideways within an orange range by early 2024. He noted that Ethereum’s projected breakout could lead to the $9,000 to $10,000 range by 2026.
The analyst pointed out that Bitcoin’s surge from $8,000 to $64,000 occurred after similar market conditions. He emphasized that Ethereum’s current market structure reflects a delayed version of Bitcoin’s prior cycle. His side-by-side chart comparison aligned Ethereum’s 2023–2025 trend with Bitcoin’s 2018–2020 phase.
ETH/BTC Approaches Oversold Levels on Weekly RSI
Stockmoney Lizards has offered additional insights based on the ETH/BTC weekly price chart. His review identified a consistent downtrend in Ethereum’s value compared to Bitcoin since mid-2022. He focused on the 0.025 BTC support zone, previously respected during prior market corrections.
Source: Stockmoney Lizards
The analyst observed RSI levels dropping to 23.00, matching the 2019 oversold condition. He marked three key interactions with this support area using black triangle indicators on the chart. This RSI level previously coincided with strong price reversals, providing a technical basis for his assessment.
He stated that ETH has now erased all ratio gains made during the DeFi cycle. The current ETH/BTC level mirrors values from before mid-2020, showing relative underperformance against Bitcoin. His analysis also noted continued lower highs and lower lows through the present cycle structure.
